Friday, November 16, 2007

Microfinance lenders are getting the message


Running a small bank that is big on microfinance can be tedious work. Take it from Omar Andaya, whose family owns Greenbank, a rural bank based in Butuan city in the southern Philippine island of Mindanao.

Each week, Mr Andaya has to send out credit officers to collect loan payments of 500-1,000 pesos ($11.5-$23) from 32,000 micro-borrowers.

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